Looking for other BHP investors. Question about spinoff. (company, closing, shares)
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Are there any other BHP investors out there in city-data-land?
BHP spun off a company called South32 Limited (SOUHV). We ADR investors were only notified on May 29, but the spin off appears to have occurred on May 18. I am trying to "balance the books" so to speak for this spin off. Thus, I need to know which SOUHV price to use in figuring by what value BHP decreased.
Any thoughts?
SOUHV appears to have had a brief price movement on May 18. The low was $8.03 but closing price was $8.08. The next day, the opening price was $8.90. That is a big difference. So which price to use?
The spin off was a 40% share dividend, i.e. 0.40 SOUHV share for every 1 BHP share.
Looks like they valued SOUHV shares at US$9.00. That would make the $8.90 opening value on May 19 closer to the spinoff value. Price went to $9.35 on the 22nd, and is now down around $8.27. So, people in Australia sold off some of their shares, I assume.
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